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Sep 30, 2024
Altice USA Q3 2024 Earnings Report
Altice USA reported mixed results with strong fiber and mobile growth offset by broadband losses. The company unveiled a transformation plan to unlock free cash flow opportunities.
Key Takeaways
Altice USA reported a 3.9% year-over-year decrease in total revenue to $2.2 billion for Q3 2024. Net loss attributable to stockholders was $43.0 million, or $(0.09) per share. The company saw strong growth in fiber and mobile, but experienced broadband customer losses. A transformation plan was unveiled to improve free cash flow.
Fiber customer growth continued with +47k net additions; fiber penetration reached 16.6%.
Mobile line net additions of +36k, representing the highest mobile line net adds in four years.
Total broadband primary service units (PSUs) net losses of -50k.
Company is targeting approximately 3 million fiber passings by year-end 2024.
Revenue by Segment
Forward Guidance
Altice USA is focused on improving free cash flow through revenue opportunities, fiber penetration, operational efficiency, and a sustainable capital structure.
Positive Outlook
- Improve broadband subscriber trends
- Reach 1 million+ mobile lines by year-end 2027
- Launch additional high margin value-added services
- Expand B2B product portfolio and scalable solutions
- Maximize asset value and competitive positioning
Challenges Ahead
- Deliver 30%+ fiber penetration year-end 2026
- Achieve gross margin of ~70% by year-end 2026
- Improve other operating expenses by 4-6% by year-end 2026
- Return normalized Adjusted EBITDA margins to ~40%
- Maintain positive annual Free Cash Flow
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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